ASIC wins court order to wind up Capital Guard after investor fund concerns

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ASIC winds up Capital Guard

Highlights

On 27 July 2026, the Supreme Court of NSW ordered the winding up of Capital Guard AU Pty Ltd, appointing McGrathNicol's Robert Kirman and Jacinta Nielsen as liquidators.
ASIC's investigation found Capital Guard raised about $17.4 million from 80 investors, with only a small proportion of funds remaining in company accounts.
ASIC cancelled Capital Guard's financial services licence after uncovering promotion of a fake Macquarie Bank bond, false documentation, and misleading statements; regulatory investigations continue.

Court-ordered liquidation and investigation

As reported by ASIC, the Supreme Court of NSW made the orders on 27 July 2026, appointing Robert Kirman and Jacinta Nielsen of McGrathNicol as joint and several liquidators for Capital Guard AU Pty Ltd.

Capital Guard had promoted itself on its website, in online advertisements, on social media and in online news articles as a regulated financial services provider specialising in acquiring and holding corporate bonds for clients. The liquidators now take control of the company, investigate its affairs, and seek to preserve and recover assets for the benefit of creditors and investors.

ASIC Chair Sarah Court says the orders are an important step in protecting investors and ensuring an independent investigation into Capital Guard's affairs. She says ASIC's concerns include the handling of investor funds, the apparent promotion of bond investments that may not have existed as represented, and serious failures in governance and compliance.

Investor exposure and wider regulatory impact

ASIC's investigation indicates that Capital Guard raised about $17.4 million from around 80 investors, while only a small proportion of those funds remained in known company bank accounts and payment platforms. Sarah Court says the appointment of independent liquidators will help determine what has happened to investor money, preserve available assets, and maximise prospects for recovery where possible.

ASIC had previously cancelled Capital Guard's Australian financial services licence after finding serious misconduct, including the promotion of a fake Macquarie Bank bond, the provision of false documents to its auditor, and misleading statements on its website. The regulator's investigation into Capital Guard and related persons and entities remains ongoing.

Federal tax enforcement actions targeting offshore concealment and false filings were the focus of our earlier coverage. We described how hedge fund manager Justin Ryan Schmidt received a 37-month prison sentence for failing to report millions in income, hiding foreign accounts, and submitting a false expatriation statement, alongside a restitution order and supervised release.

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